Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
The existing contract for the Councils insurance arrangements runs from 1 April 2018 - 31 March 2023. (MAR18/CMDN/113). Discussions are now being held with insurance specialists and the Procurement Team to set out the specification requirements so that this contract can go out to tender with award expected in late January 2023 / early February 2023.
With the approval of the Chairman of the Growth, Resources and Communities Scrutiny Committee, the waiver of call-in procedure has been invoked to suspend the 3 day call in period. This procedure has been invoked because there is insufficient time to implement the contract on 1st April 2023 if the decision is called in and the Council cannot be without insurance.
Cabinet considered the report and RESOLVED to:
Authorise the award of a new insurance contract for PCC and Peterborough Ltd, to run between 1 April 2023 and 31 March 2028. It is proposed that the contract be awarded to Zurich Municipal Insurance in the sum of £872,859.22 plus Insurance Premium Tax for PCC and £339,496.19 plus IPT for Peterborough Ltd.
The insurer being recommended scored the best against the criteria set out in 4.7 and is considered to meet the Council’s insurance needs going forward.
The insurance contract could be awarded to other insurers who submitted a tender bid, however as they scored less highly than those recommended, there would be adverse costs implications for the Council or issues with policy cover.
Publication date: 13/03/2023
Date of decision: 13/03/2023
Decided at meeting: 13/03/2023 - Cabinet